Legal analysis: effective. A legally established contract shall take effect upon its establishment. Where approval and registration procedures are required by laws and administrative regulations, such provisions shall prevail. To sum up, as long as there is no fraud, coercion, major misunderstanding, obviously unfair or violation of mandatory provisions of laws and regulations. In the process of concluding a contract between the lessor and the lessee, the contract is invalid, revocable or changeable. The conclusion of a contract is the expression of the true meaning of both parties. After both parties sign or seal, the contract is established according to law.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 490 Where the parties conclude a contract in the form of a contract, the contract is formed when the parties sign, seal or fingerprint it. Before signing, sealing or fingerprinting, one party has fulfilled its main obligations, and the contract is established when the other party accepts it. A contract shall be concluded in written form as stipulated by laws, administrative regulations or agreed by the parties. If the parties do not do this in writing, but one party has fulfilled its main obligations and the other party accepts it, the contract is established.

Article 500 In the process of concluding a contract, if any of the following circumstances causes losses to the other party, the parties shall be liable for compensation: (1) maliciously negotiating under the guise of concluding a contract; (2) Deliberately concealing important facts related to the conclusion of a contract or providing false information; (three) there are other acts that violate the principle of good faith.